ANCHORAGE, Alaska (AP) — An Alaska state official says the Federal Trade Commission will let BP’s planned sale of its Alaska oil assets to Hilcorp Alaska advance.
The Anchorage Daily News reports the FTC had no antitrust concerns with the $5.6 billion deal.
The information was disclosed in a Tuesday letter to state lawmakers from Natural Resources Commissioner Corri Feige.
FTC spokeswoman Betsy Lordan says her agency does not publicly comment on its position when no antitrust issues are involved.
The sale would include BP’s interests in both the Prudhoe Bay oil field and the trans-Alaska pipeline.
The purchase is subject to state and federal approval.
BP Chief Executive Bob Dudley has said the company has other opportunities that are more competitive and better aligned with the company’s long-term strategy.
Information from: Anchorage Daily News, http://www.adn.com